China Expert Technology, Inc. (fka CXTI)

[Renee]

Regretably , Stock Picker , in a nutshell shareholders get nuttin .

[$to©k_Pi©ker™]

So what do us shareholders receive from this scam? Nothing?!?!?!

[Renee]

CXTI revoked :

http://www.sec.gov/litigation/admin/2011/34-64118.pdf

[$to©k_Pi©ker™]

I agree with everything you state. However, i believe at the time when i bought this eons ago, this was a higher exchange board. I know i would have NEVER invested or trusted a pink, even back then when i was more 'naive'.

[bar1080]

It's easy to protect oneself. Stick mostly with NYSE stocks and never buy OTCBB/Pink pennies. If you have to buy small caps, only buy those with top 20 national auditors. Outright frauds on the NYSE have proven to be extremely rare. (yes, I know about Enron and Arthur Andersen)

That's the way Warren Buffett has invested for decades.

[$to©k_Pi©ker™]

Wow, thanks. This should be forwarded to the SEC for 1 reason....

Enforce all Chinese stocks to NOT trade on US markets because of this corruption. If this becomes even a remote reality, then China's government/other firms that ARE legit would aid in doing something about scam companies like this.

This just pi$$es me off.

[bar1080]

NEWS!

In 2007, shareholders filed a securities-fraud lawsuit against e-commerce company China Expert Technology Inc. (CXTI.PK), claiming it had forged 16 different Chinese government contracts, overstating the value of its revenue in public filings by $131 million. The company never responded to the complaint and was found to be in default in January 2008. Three years later, the plaintiffs still haven't even attempted to calculate damages and collect, according to the shareholders' lawyer, Phillip Kim of New York's Rosen Law Firm. Kim said any effort to collect at this point would be futile, since the company has moved its assets out of jurisdictions accessible to U.S. investors. The company still trades as a penny stock in the United States. Messages sent to a company e-mail address seeking comment bounced back, and phone calls were not answered.

With China Expert out of reach, in October 2009 Kim amended the complaint to add as defendants the company's auditors, PKF Hong Kong and BDO McCabe Lo Limited. Last week, U.S. District Judge Alvin Hellerstein of the Southern District of New York granted the defendants' motion to dismiss, finding that the plaintiffs had not adequately demonstrated how the auditing firms violated accounting rules. But he gave the plaintiffs six weeks to re-file.

Kim, whose six-lawyer firm typically files dozens of se



http://www.reuters.com/article/2011/02/14/china-lawsuits-idUSN1429211020110214

[$to©k_Pi©ker™]

Anyone have current news on the class action?

[taraniterror]

Up 900,000 % - WOW !http://finance.yahoo.com/q?s=CXTI.PK MY ACCOUNT SHOWS 9 MILLION DOLLARS . Better hurry and cash it out .

[taraniterror]

Up 900,000 % - WOW !http://finance.yahoo.com/q?s=CXTI.PK

[Hedge Starz]

robbery

[$to©k_Pi©ker™]

FWIW, for those who submitted a claim, it appears that if the case is successfull (and i think it will be) - looking at the previous successufll cases by Rosen Law Firm, no shareholder received back more than .20 a share. It appears we will get back only about .1o to .15 cents per share we owned.

This is rather insignificant. I owned about 1500 shares, so i will get a check of about 200 dollars back from all the cash i lost.

[$to©k_Pi©ker™]

They lied to and screwed investors. Whoever did spend that money buying this is out of their mind - point blank.

[taraniterror]

Who in their right mind would buy $2600 worth of this crap ? Someone is accumulating shares, been going on for the past couple of weeks - News out ? Maybe their not dead.

[Hedge Starz]

like what??? pending lawsuits

[taraniterror]

Somethings up ...

[taraniterror]

Nope - Sold half at .72 WHEN IT SPIKED A FEW MONTHS BACK. Been holding the other half since then.... Bad move ! Bought in at .25 right before the spike to .90 So I'm OK

[$to©k_Pi©ker™]

Not exactly the smartest investment decision available, is it?

[taraniterror]

Someone just spend $5,300 on this turd !

[taraniterror]

Someone bid it back up to .30 - Free trading here ...

[taraniterror]

Rosen E- mailed me back today and said "nothing yet " ! Which means no court date yet , or no contact with those clowns from CXTI - Read between the lines.

[nydave]

I still have to dig more. I need some big baggers right now. I want to have 201k shares of SCRA before it runs.

[bagfull]

Be careful playing this. Risky business

[bagfull]

I am basing this upon the recent filing of 8k. There is a possiblity that they might get current with their filings soon and also settle the court case. At least that is the rumors.

This is jMHO and a speculation. Not sure it will happen. Movement in last two days and recent filing of *K regarding old resignation suggests that.

Again this is risky and be careful playing it. JMHO

[heptikus]

.60 is the next resistance point in the daily chart, but I'm not sure we'll get there today. I hope you're right though...

[nydave]

whats up bag? What are you basing this on?

[bagfull]

Will close @ 60 c today .IMO

[bagfull]

This is gonna run quickly up to a dollar. New CEO want to settle the case amd move forward. I hear they are filing all the papers soon. IMO

[taraniterror]

If anyone would like to sign in to "PACER "- on the Southern District Court Home-page , where you can get free documents of court cases coming up , feel free - I just don't have the time.

Looks like it's .08 per page - No registration fee though. Link -https://pacer.psc.uscourts.gov/psco/cgi-bin/regform.pl - Come on guys - Someone else do some D&D !!!

Peace - Maybe Mr. Rosen will contact me by E-mail of the court date !

[taraniterror]

Southern District Court of New York... Keep an eye on their home-page for the up-coming trail. If they settle out of court, that would be a great thing actually. That would mean they still have $$ ! Been E-mailing Mr. Rosen about the trial , so far no reply.

Here is the link ...http://www1.nysd.uscourts.gov/cases.php?form=mdl

Court Case # 07-CV-10531.

[taraniterror]

LOL - Sorry for the quick bail ! Could be back to .05 tomorrow ! Never throw w/ this thing !

By the way - HOW MUCH DID YOUR BROKER CHARGE YOU TO SELL ?
Since there's no market makers with this stock (no BID or ASK)- Scottrade wanted $28 to sell 500 shares. LOL - That's the only reason I was still holding. If it was the normal $7 / per trade - I probably would have sold by now.

[joenatural]

Thought I was pretty sly in bailing out this morning at .11 and now I'm just laughing.

[heptikus]

CXTI can come current on its reporting by filing their 10-Q for 2nd and 3rd quarters of 2007. That would be huge for all longs and shorts (if any remain) would be crushed in an instant! May be far fetched, but I believe there is still something to this company. Here's hopin'...

[heptikus]

The market is betting that there is more news to come. Can't imagine the spike if they validate their business and contracts...

[joenatural]

Thanks for the link

[taraniterror]

Yes, this is a old resignation - but dated yesterday ! Huuh - Least we got some movement !http://www.sec.gov/Archives/edgar/data/1039726/000114420408006447/v102193_8k.htm

[taraniterror]

Really - Have to do some research..............

[joenatural]

I heard there was an 8-k filing of some sorts.

[taraniterror]

150 % Wuz Up ?

[taraniterror]

booyah

[mnvestor]

The Rosen Law Firm Files Securities Class Action Charging China Expert Technology, Inc. With Violations of the Federal Securities Laws -- CXTI.PK Formerly CXTI.OB
The Rosen Law Firm announced today that it has filed a class action lawsuit on behalf of all purchasers of China Expert Technology, Inc. ("CXTI" or the "Company") (PINKSHEETS: CXTI) (formerly OTCBB: CXTI) stock from November 14, 2006 through October 1, 2007, inclusive (the "Class Period").

To join the CXTI class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email [e-mail] or [e-mail] for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER.

The case is pending in the United States District Court for the Southern District of New York as case no. 07-cv-10531. You can obtain a copy of the complaint from the clerk of court or you may contact counsel for plaintiffs Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email [e-mail] or [e-mail].

The complaint charges CXTI and certain of its present and former officers and directors with violations of Sections 10(a) and 20(a) of the Securities Exchange Act of 1934. According to the complaint, during the Class Period the Company issued materially false and misleading statements pertaining to its financial results, condition, and business prospects.

The complaint asserts that on July 19, 2007 the Company's CFO suddenly resigned. Thereafter, on August 14, 2007 CXTI announced that it had obtained a five-day extension with the SEC to file its quarterly report on Form 10-Q. During this period of time, numerous articles were published by media outlets calling into question the veracity CXTI's disclosures. On October 1st, following the resignation of the Company's auditor, the SEC temporarily halted trading of CXTI's stock. As a result of these adverse disclosures, investors were damaged.

A class action lawsuit has already been filed on behalf of CXTI shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than January 21, 2008. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at [e-mail] or [e-mail].

The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.

Contact:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm P.A.
Tel: [phone]
Weekends Tel: [phone]
Toll Free: 1-866--767-3653
Fax: [phone]
Email Contact
Email Contact
www.rosenlegal.com





Source: Marketwire (November 21, 2007 - 8:31 PM EST)

News by QuoteMedia

[kmx_swing]

If you want to buy it for 2.00 dollars, make it and it will bounce to two. You are on grey sheets. No marketmakers but sellers and bidders only make level II. Or better say - there is no level II any longer........

[zulual]

Did anyone call SEC for final results of the investigation?
If nothing was wrong, the PPS should be bounced back up $2.00 at least.

[taraniterror]

I bought at .25 - I should get the fluck out ? !

[fastlizzy]

Yep...they do what they want! I do think sumthin OK is coming...not sure what!

[kmx_swing]

Grey market......

[fastlizzy]

.25 and still no news....

I would think they would have kept it halted if it was a scam!

[booger]

Nite offering short share block..



mo
BD

[taraniterror]

http://66.201.236.134/export/level2.jsp?symbol=CXTI LOL

[taraniterror]

Back to .20 - WIPEE.............Hold tight guys , we should hear something soon. No use dumping now. NAP TIME !